Property insurance rates in Mississippi even out but insurers still wary

The Mississippi Insurance Commissioner, Mike Chaney, is reporting that property insurance rates in the state are leveling off. Chaney spoke Tuesday at a luncheon hosted by the Gulf Coast Business Club. Predictions of an unusually active hurricane season earlier this year from the National Oceanic and Atmospheric Administration spurred a sharp rise in insurance rates in Mississippi and neighboring states. The momentum seems to have died out, however, a trend that Chaney believes is due to models that suggest many storms will be diverted to Texas or up the East…

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